Video Notes: E-Commerce and Digital Economy

Vocabulary flashcards covering key concepts from the lecture notes on e-commerce, e-business, digital economy, platforms, security, payments, and social considerations.

E-commerce

The trading of products or services using computer networks (e.g., the Internet), including online shopping, online marketplaces, B2B/B2C, and related ICT like EDI and data systems.

E-business

The application of ICT to support all business activities, including internal and external processes, using the internet.

Digital Economy

An economy substantially based on computing technologies, also called the internet/web/new/web economy, increasingly intertwined with the traditional economy.

Digitalization of Business

Comprehensive use of ICT across and among organizations to link and automate information and processes.

Focus on Business Processes

Supporting and automating end-to-end processes across organizations to improve speed and efficiency.

Usage of a Global Network

The Internet as a global virtual space where organizations and people can connect without geographic or time boundaries.

New Potentials and Opportunities for Cooperation

Independent actors collaborating online whenever there is a need.

5-C Model of E-commerce

Five components: Commerce, Collaboration, Communication, Connection, Computation.

M-Commerce

Mobile commerce; using mobile devices for business purposes with features like location awareness and personalized offers.

Client/Server Computing

Network model where clients request resources from one or more servers.

Cloud Computing

Delivering hardware and software services over the Internet from large data centers.

IaaS

Infrastructure as a Service; virtualized computing resources provided over the internet.

SaaS

Software as a Service; software applications delivered over the internet.

PaaS

Platform as a Service; cloud-based environment with tools for developers.

Web/World Wide Web

System of interlinked hypertext documents accessed via the Internet; HTML, browsers, URLs; invented by Tim Berners-Lee (1989).

E-commerce Infrastructure

Foundational technologies and platforms enabling online transactions: Internet, Web, and Mobile Platforms.

Internet

Global network of interconnected computers and servers enabling data exchange.

Web Technologies

Web servers, browsers, programming languages/frameworks, and web services.

Mobile Platforms

Mobile commerce growth driven by smartphones/tablets; supports m-commerce.

5G Technology

Next-generation mobile network enabling faster, more reliable wireless connectivity.

Artificial Intelligence

Computing that enables machines to perform tasks that typically require human intelligence; a future trend in e-commerce.

Internet of Things

Network of physical devices connected to the internet to collect and share data.

E-commerce Websites

Online platforms with user-friendly design, product listings, shopping cart, security, and backend management.

Mobile Sites

Responsive, touch-friendly sites with fast load times, location services, and branding consistency.

Mobile Applications

Apps offering enhanced UX, personalization, device integration, speed, and loyalty features.

Responsive Design

Web design that adapts layouts to different screen sizes and orientations.

Location Services

GPS-based features for personalized offers and local shopping experiences.

Security Threats

Hacking, Malware, Phishing, and DDoS attacks that threaten e-commerce security.

Security Measures

Techniques to protect systems: SSL/TLS, Firewalls, IDS, 2FA, and audits.

SSL/TLS Encryption

Cryptographic protocols securing data in transit between clients and servers.

Two-Factor Authentication

Security requiring two forms of verification beyond a password.

Payment Systems

Methods for settling transactions: Credit/Debit Cards, Digital Wallets, Bank Transfers, Cryptocurrencies, BNPL.

Payment Gateway

Interface between the e-commerce site and the payment processor that securely transmits payment details.

Payment Processor

Entity that handles the transaction and transfers funds from customer to merchant.

Buy Now, Pay Later (BNPL)

Financing option enabling customers to purchase now and pay later.

Encrypt Data

Encoding data to protect privacy and ensure secure storage/transfer.

Data Privacy

Protecting individuals' personal information in data collection and usage.

Environmental Sustainability

Business practices that minimize environmental impact and resource depletion.

Social Equity

Ensuring fair opportunities and treatment across different societal groups.